Sabinews Morning News Update for December 23, 2015
NCAA sanctions Aero Contractors over ladder incident
The Nigerian Civil Aviation Authority (NCAA) has imposed an applicable sanction on Aero Contractors Airlines in line with Nigerian Civil Aviation Regulations (Nig.CARs).
According to the NCAA, although the incident did not result in any mishap, the aircraft is airworthy and the crew well qualified to operate the flight. Read more
Buhari directs immediate payment of December salaries
President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers.
The Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive. Read more
Rivers Assembly sacks council boss over killings
The Rivers State House of Assembly has dissolved the Ogba/Egbema/Ndoni Local Government Council and sacked the council chairman, Mr. Augustine Ahiamadu.
The dissolution is coming on the heels of increasing level of violence and killings in the area due to continued cult clashes. Read more
What Omo-Agege’s emergence means to the Urhobos
News of the Appeal Court judgment ousting Chief Ighoyota Amori of the Peoples Democratic Party, PDP as senator representing Delta Central Senatorial District shook the political firmament in the constituency in the evening of Saturday 19th December, 2015.
Remarkably, it came not too long after Amori as the serving senator had hosted a lavish thanksgiving service to celebrate his victory over Obasi Ovie Omo-Agege, the Labour Party candidate at the tribunal. Read more
Police burst counterfeit currencies syndicate in Lagos hotel
Detectives of the Inspector-General of Police, IGP, Intelligence Response Team, IRT, have uncovered a hotel in Badagry area of Lagos, allegedly used for printing of fake foreign currency.
Vanguard gathered that about 15 persons; eleven of who are Ghanaians and four Nigerians allegedly, used some of the rooms in the hotel to print the fake foreign currencies. Read more
Senate sets up 41-member constitution review panel
The Senate yesterday constituted a 41 member constitution review committee.
The Upper Chamber also passed a bill to extend the implementation of the 2015 capital budget to March, 2016. Read more
House Commences Investigations into Zaria Killings
By popular demand, the award-winning stage musical, Kakadu returns to Lagos this December on the 29 and 30 2015, and January 1 and 3, 2016.
Kakadu The Musical, Nigeria’s first ever contemporary stage musical, which is an exciting and eclectic blend of music, drama and dance is a dramatic tribute to the period and infinite possibilities of Nigeria in the 60s and early 70s.Using the famous Lagos nightclub of the sixties as a backdrop, the musical inspires nolstagia, wonderful music with its distinctive social life. It has been described as “complete theatre that educates and enlightens while it entertains.” Read more
NSE market capitalisation rises by N66bn
Market capitalisation at the Nigerian Stock Exchange appreciated by N66bn to close at N9.255tn from N9.189tn after the close of trading on Tuesday.
A total of 20 stocks emerged gainers while 16 depreciated in value. Read more
Forte Oil net income rises by 7%
Petroleum products marketing firm, Forte Oil Plc, has increased its net income by seven per cent to N4.2bn compared to N4bn recoded in the same period the previous year.
The company’s other Income post increased by 216 per cent to 2.6bn compared to N0.84bn in the third quarter of 2014, largely due to gains on disposal of investment property, accrued interest and investment income. Read more
MAN charges CBN to stop funding Bureaux de Change
The Manufacturers Association of Nigeria, MAN, has charged the Central Bank of Nigeria, CBN, to stop funding the Bureau de change market.
In a statement , the President of MAN, Chief Frank Jacobs, said: Ït is difficult to understand why, in the first instance, these outfits should depend on official allocation of forex by the CBN for their survival. Read more
Nigeria’s non-oil exports value below 14% in Q3, 2015
Indications that sustained efforts by the federal and state governments to boost non-oil value in Nigeria’s merchandise trade are not yielding the desired results have shown with the total value of the sub-sector accounting for less than 14 per cent of the nation’s merchandise exports in the third quarter of this year.
Even then, the value of manufacturing, non-oil mining and agro processed goods exported during the period, which should naturally reflect the virility of the non-oil sector and success of the economic base diversification agenda of the governments, is estimated to be less than eight per cent of the exports trade value. Read more
Oil and Gas
Subsidy Removal Inevitable, Says Oyegun
The National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun, yesterday said the eventual removal of fuel subsidy is inevitable.
He said the gradual removal of subsidy is necessary in view of emerging and current realities. Read more
Oil prices rebound, lift stocks of petroleum firms
World stock markets eked out small gains yesterday, lifted by a recovery in oil prices from 11-year lows as investors unwound some of their bearish bets on the battered commodity.
European stock markets followed Asia higher. The pan-European FTSEurofirst 300 gained 0.4 per cent after two days of falls while U.S. stock futures suggested Wall Street shares may build on Monday’s rally. Read more
Low oil prices, dearth of investments hampering NPDC’s, others’ operations
There are strong indications that planners may not have had a clear picture of what the global oil market portended when they set out to work on the 2015 budget. They first proposed $78, then $73 before adopting $53 per barrel as the nation’s budget oil benchmark for the financial year.
Even then, oil prices have since fallen below that range, thus compelling the Joint ventures to cut their budgets by as much as $40 per cent. Read more
NLC rejects hike in electricity tariff, subsidy removal
The National Working Committee of the Nigeria Labour Congress has restated its opposition to the removal of the fuel subsidy in the country.
The President of the NLC, Mr. Ayuba Wabba, who read the communique of an emergency meeting of the NWC in Abuja on Tuesday, said that the congress also rejected the new tariff regime for electricity and the reintroduction of toll gates in the country. Read more
NTF board reaffirms Binga as president
Nigeria Taekwondo Federation has reconfirmed Margaret Elizabeth Binga as president, after George Ashiru was impeached 6-1 on December 12.
According to a statement signed by seven members of the NTF, Mrs Binga, a two time African champion and international referee is the authentic president, while Mr. Ashiru remains a board member. It stated further that a 33 page document, detailing the events that led to Ashiru’s removal has been sent to the Sports Ministry and the National Sports Commission. Read more
Enyimba beat Sunshine to Dare Ojo
Champions Enyimba have completed the signing of Dare Ojo to beat Sunshine Stars to the highly-rated Kwara United midfielder.
Ojo posted an eye-catching performance with some spectacular goals and all-round displays even though Kwara made a prompt return to the lower league. Read more
Sports Minister reads riot out to NFF
The Nigeria Football Federation NFF has been barred from selling players of the national U-23 team to clubs in Europe and outside the country without an appropriate developmental framework.
The Minister of Youth and Sports Barrister Solomon Selcap Dalung gave the directive yesterday in Abuja after receiving reports that illegal transactions of players took place regularly at the NFF. He warned that International transfer certificates should not be issued without serving the interest of the player. Read more
Leicester Not Title Contenders – Ranieri
Claudio Ranieri insists Leicester City are not title contenders, despite leading the Premier League table at Christmas.
Ranieri’s side are two points clear of Arsenal with 38 points from 17 games ahead of a daunting Christmas schedule which sees them travel to Liverpool before hosting Manchester City. Read more
Dalung Bars NFF from Clearing Players for Rogue Clubs in Europe
The Minister of Youth and Sports Solomon Selcap Dalung has barred the Nigeria Football Federation (NFF) from clearing players of the national Under-23 team to clubs in Europe without an appropriate developmental framework.
Dalung’s position is in line with earlier statements made by the NFF President, Amaju Pinnick, that players in the age-grade teams that have excelled in both continent and global stages would not be released to any foreign club that has no developmental plans for the Nigerian emerging stars. Read more
Tunisia extends state of emergency for two months – presidency
Tunisia’s government has extended a state of emergency imposed after a November suicide bombing, from Dec. 24 to Feb. 21, the presidency said in a statement on Tuesday.
The state of emergency grants the presidency and armed forces more powers and suspends some rights. The statement said the decision to extend it was made after consultations with the prime minister and parliament speaker. Read more
Sudan backs Burundi in its dispute with African Union on peacekeeping force: report
The Sudanese government appeared to be siding with Burundi in its clash with the African Union (AU) over the latter’s decision to send a peacekeeping force to quell a growing wave of violence that is widely feared to develop into full blown ethnic killing.
The AU decided last week to create a 5,000-strong peacekeeping mission that would be deployed to Burundi with a six-month renewable mandate. Read more
Uganda Breweries wants taxes on alcohol revised
Uganda Breweries Limited has warned that increasing excise tax on beer made from local raw materials could lead to a further hike in the price of beer, which could lead to a reduction in the production of beer and therefore lower tax revenue for the country.
Nyimpini Mabunda, the managing director of Uganda Breweries Ltd, said the taxes should at least be maintained at 20 per cent rather than 30 per cent. Read more
Russia Airstrikes ‘May Amount To War Crimes’
Russia has been accused of killing hundreds of civilians in raids on Syria using “cluster munitions and unguided bombs”.
A report by Amnesty International said focused on six strikes on Homs, Idlib and Aleppo provinces which “may amount to war crimes”. Read more
Ten migrants drown off Greek island, coastguard rescues 13
Five children, one woman and four men drowned when their boat sank off the small Greek island of Farmakonisi, Greek coastguard officials said early on Wednesday.
Another 13 people, 11 men and two women, were rescued and two were still missing according to witnesses, the officials said adding that a helicopter, a patrol boat and private vessels assisted the search-and-rescue operation. Read more
Man arrested over threat to shoot friend who revealed Star Wars spoiler
A Montana man has been arrested on suspicion of threatening to shoot a student for divulging a plot line from the newly released Star Wars epic, court documents show.
Police say Arthur Roy, of Helena, got “angry” with a student he had befriended on Facebook after the boy gave up a subplot to Star Wars: The Force Awakens during an online conversation last week. Read more
Thailand’s junta releases poll showing 99.3% of citizens happy with its performance
Thailand’s military junta, which took power in a coup last year and has smothered public criticism of its rule, has conducted a poll that found more than 99% of Thais are happy with its performance.
The National Statistics Office released the results of the poll, which questioned 2,700 people nationwide, one day before the government was due to present its one-year performance review. Read more